The Dollar to Naira exchange rate in Nigeria’s black market, also known as the parallel market, remained relatively stable on Friday, August 28, 2026, as the United States dollar traded at N1,405 on the buying side and N1,415 on the selling side across major Bureau De Change (BDC) markets.
According to information obtained from Bureau De Change (BDC) operators, dealers are buying one US dollar from Nigerians at approximately N1,405, while Nigerians seeking to purchase dollars are paying about N1,415 per dollar.
The latest exchange rate indicates that the naira remained broadly stable in the parallel market despite continued demand for foreign currency from importers, manufacturers, international travelers, students paying tuition abroad and businesses settling overseas obligations. Currency traders said the relatively narrow movement in the exchange rate reflects balanced market activity and improved liquidity in the official foreign exchange market.
Black market exchange rates are determined by prevailing demand and supply conditions and may vary slightly depending on location, transaction size and individual Bureau De Change operators.
How Much Is Dollar to Naira Today in Black Market?
For those asking, “How much is Dollar to Naira today in black market?”, below is the prevailing exchange rate as of Friday, August 28, 2026:
| Currency | Buying Rate | Selling Rate |
|---|---|---|
| US Dollar (USD) | N1,405 | N1,415 |
The N1,405 buying rate represents the amount Bureau De Change operators pay Nigerians selling one US dollar, while the N1,415 selling rate represents the amount customers pay to purchase one US dollar from the parallel market.
At the prevailing rates:
- Selling $100 would fetch approximately N140,500.
- Buying $100 would cost approximately N141,500.
- Selling $1,000 would yield about N1.405 million.
- Purchasing $1,000 would cost approximately N1.415 million.
Naira Maintains Stable Performance
The latest Dollar to Naira exchange rate suggests the naira continued to trade within a relatively narrow range as foreign exchange demand remained balanced by available supply.
Market participants said importers, manufacturers, international travelers and businesses requiring foreign currency for overseas payments continued to support demand for the US dollar. However, improved liquidity in the official foreign exchange market has helped reduce volatility in the parallel market in recent weeks.
Factors Influencing the Dollar to Naira Exchange Rate
Several factors continue to influence the movement of the Dollar to Naira exchange rate, including:
- Demand for foreign exchange from importers, manufacturers and travelers.
- Availability of US dollars through official foreign exchange channels.
- Nigeria’s crude oil export earnings and external reserve position.
- Diaspora remittances and foreign investment inflows.
- Monetary policy decisions and foreign exchange reforms.
- Inflation expectations and broader macroeconomic conditions.
These factors continue to determine the value of the naira in both the official and parallel foreign exchange markets.
Official Dollar to Naira Exchange Rate
Nigeria’s official foreign exchange market operates under the supervision of the Central Bank of Nigeria (CBN). The latest Nigerian Foreign Exchange Market (NFEM) rate remained around N1,338 per US dollar, below the prevailing parallel market rate.
The official exchange rate differs from the black market rate because the two markets operate under different pricing mechanisms, liquidity conditions and regulatory frameworks.
Dollar to Naira Outlook
Analysts expect the Dollar to Naira exchange rate to remain influenced by foreign exchange liquidity, crude oil export earnings, investor confidence, external reserves, diaspora remittances and monetary policy developments. Continued improvements in official dollar supply could provide additional support for the naira, while sustained demand in the parallel market may keep exchange rates around current levels.
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